Five Tips for the Newly Minted Entrepreneur

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The New Year is in full swing and it is the perfect time to kick start those resolutions of finally getting your idea off the ground.
Figure out the ABC’s
Before you rush into your business, sit down and really brainstorm. Determine what the new name of your company will be and have an attorney help you set it up. Really hone in on what you want to focus on in terms of products and services and look around for competition so you can really determine your niche in the market you are operating in to stand out. Lastly, determine your target customers. Who is going to make you successful?
Build a Team
It’s always good to have a smart, reliable team around you that you can tap for advice and ideas when you are in over your head. If you need space, reach out and find a great person in real estate. A good accountant is essential from the beginning to make sure everything is in order from a business perspective and you are setting yourself up for financial success. A seasoned attorney is also a big piece of the puzzle – they can help you set up the business structure, evaluate intellectual property and navigate contracts. Lastly, marketing and design/digital will be paramount in attracting new customers. Find someone that shares your vision and can articulate it into a logo, website, etc.
Market Yourself and Your Business
Now that you have a go forward strategy, get out there and market yourself and your company. Attend as many networking events that make sense for your business and consider marketing tactics like free samples or sponsoring events. Also, really build out your social media networks (not only your personal one, but one specifically dedicated to the business).
Find a Mentor
Mentors can be one of the most important resources a new entrepreneur should have. A good mentor, someone who has already built a successful business and faced the same challenges you face today, can really help you navigate through difficult situations and provide the sound, honest advice you need to hear. Connect with a local small business resource center and see if they have any programs available to you.
Go All In
There will be ups and downs for every entrepreneur, and each day is different than the last. You need to commit to your idea and really go all in on this business. You can only be as successful as you want to be, so make this your passion and give it your all.

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